Our Weekly Roundup: From the Invisible Hand to Invisible People

Today’s weekly roundup includes the everyday economics of invisibles like the cost of tariffs, the market, certain jobs, measures and the impact of a canal.

The Story of a Candle Tax

Our story begins with one 1986 tax, an “antidumping duty,” on Chinese candles. Responding to very low Chinese candle prices, the U.S. decided to protect domestic candle producers. By 2004, the tax was huge. More than 100%.  Also, candle makers…

More Than Chicken Feet

Chicken feet are back in the news. But the story is about much more. A delicacy in China, chicken feet are a perfect U.S. export. Except for animal feed, there is little demand for them in the U.S. By contrast,…